Headlands Technologies LLC Increases Stock Holdings in PTC Therapeutics, Inc. (NASDAQ:PTCT)

Headlands Technologies LLC boosted its stake in PTC Therapeutics, Inc. (NASDAQ:PTCT) by 843.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,228 shares of the biopharmaceutical company’s stock after acquiring an additional 6,462 shares during the quarter. Headlands Technologies LLC’s holdings in PTC Therapeutics were worth $326,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vontobel Holding Ltd. purchased a new position in shares of PTC Therapeutics in the fourth quarter valued at $521,000. Raymond James Financial Inc. acquired a new stake in shares of PTC Therapeutics during the fourth quarter valued at about $2,200,000. Two Sigma Advisers LP grew its stake in shares of PTC Therapeutics by 10.3% during the third quarter. Two Sigma Advisers LP now owns 429,842 shares of the biopharmaceutical company’s stock valued at $15,947,000 after acquiring an additional 40,300 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of PTC Therapeutics during the fourth quarter worth about $758,000. Finally, Natixis Advisors LLC acquired a new position in shares of PTC Therapeutics in the fourth quarter worth about $544,000.

Analysts Set New Price Targets

PTCT has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target (up previously from $67.00) on shares of PTC Therapeutics in a research report on Friday, March 7th. Scotiabank assumed coverage on PTC Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $55.00 price target on the stock. Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $76.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Finally, Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $41.00 to $55.00 in a report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $63.77.

PTC Therapeutics Price Performance

PTCT opened at $43.24 on Friday. The business has a 50 day moving average price of $51.22 and a two-hundred day moving average price of $45.56. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -7.28 and a beta of 0.58. PTC Therapeutics, Inc. has a 1-year low of $24.00 and a 1-year high of $58.38.

Insider Activity

In other PTC Therapeutics news, EVP Lee Scott Golden sold 795 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total value of $39,829.50. Following the sale, the executive vice president now directly owns 77,856 shares in the company, valued at approximately $3,900,585.60. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christine Marie Utter sold 879 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $50.10, for a total transaction of $44,037.90. Following the transaction, the chief accounting officer now owns 63,442 shares of the company’s stock, valued at approximately $3,178,444.20. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,009 shares of company stock worth $1,841,161 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.